Disclosure of Beneficial Ownership in 2021 — International and U.S. Perspectives (International Insight)

The full-length alert is available for download with the footnotes here.

Curtis is launching a series of alerts on beneficial ownership disclosure requirements in multiple jurisdictions.

The new regulations and requirements on the beneficial ownership disclosure has been a reoccurring topic in the recent months, with new legislation being adopted by the United States, the European Union, and the UK. It culminated with a big shift in G7 countries policy made public through the joint statement by the G7 Finance Ministers and Central Bank Governors just days before the G7 Summit of 2021. G7 countries unequivocally declared their commitment to establish and strengthen beneficial owner registers and called on countries across the globe to implement and strengthen The Financial Action Task Force (FATF) standards. The FATF Recommendations are recognized as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.

Curtis Mallet Prevost Colt Mosle LLP (Curtis) prepared a series of alerts discussing the international and national standards on beneficial owner, as well as discussing implications for affected companies.